https://www.taxtmi.com/caselaws?id=210820 The Court dismissed the applicant Trust's plea for the release of land and execution of a sale deed with the Company in liquidation in C.A. No. 732/2008. The transaction was deemed invalid under Sections 531 and 531-A of the Companies Act as it occurred after the winding-up petition was filed. The Court emphasized that ignorance of the petition does not validate the transaction, leading to the rejection of the Trust's application. Additionally, the Court dismissed the Trust's application for a stay on the sale of the land by the Official Liquidator in CO.A. No. 341/2009, citing the invalidity and unenforceability of the transaction. en-us Mon, 23 Jan 2012 00:00:00 +0530 Mon, 20 Feb 2012 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210820 The Court dismissed the applicant Trust's plea for the release of land and execution of a sale deed with the Company in liquidation in C.A. No. 732/2008. The transaction was deemed invalid under Sections 531 and 531-A of the Companies Act as it occurred after the winding-up petition was filed. The Court emphasized that ignorance of the petition does not validate the transaction, leading to the rejection of the Trust's application. Additionally, the Court dismissed the Trust's application for a stay on the sale of the land by the Official Liquidator in CO.A. No. 341/2009, citing the invalidity and unenforceability of the transaction. Case-Laws Companies Law Mon, 23 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210820